MSFD vs TAIL
Direxion Daily MSFT Bear 1X ETF vs Cambria Tail Risk ETF
Which is better, MSFD or TAIL?
Each has led over a different period.
TAIL has a lower expense ratio. MSFD led over 1Y, TAIL over 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MSFD | TAIL |
|---|---|---|
| Expense Ratio | 1.02% | 0.59%Best |
| AUM | $8M | $152M |
| Dividend Yield | 4.17% | 3.56% |
| Holdings | 6 | 22 |
| YTD Return | -17.34% | -13.90%Best |
| 1Y Return | -10.15%Best | -16.55% |
| 3Y Return (annualized) | -15.62% | -5.95%Best |
| 5Y Return (annualized) | - | -9.53% |
| Volatility (annualized) | 25.8% | 9.1%Best |
| Max Drawdown | -62.1% | -36.2%Best |
| $10,000 over 4.1 years | $4,490 | $6,796Best |
| Fund Family | Direxion Shares ETF Trust | Cambria Investment Management |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Sep 7, 2022 | Apr 5, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.1 years row, are measured over the window both funds cover: Sep 8, 2022 to Oct 15, 2026 (4.1 years).
MSFD vs TAIL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.1 years both funds cover.
MSFD vs TAIL Performance
Direxion Daily MSFT Bear 1X ETF (MSFD) is an ETF from Direxion Shares ETF Trust and Cambria Tail Risk ETF (TAIL) is an ETF from Cambria Investment Management. Over the past year MSFD returned -10.15% while TAIL returned -16.55%. Year to date, MSFD is down 17.34% versus a loss of 13.90% for TAIL.
Over three years, MSFD compounded at -15.62% per year against -5.95% for TAIL. Across the full 4-year window we track, TAIL has the edge at -8.99% annualized vs -17.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MSFD has been the more volatile fund, with annualized monthly volatility of 25.8% compared with 9.1% for TAIL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -62.1% for MSFD and -36.2% for TAIL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.22. They move largely independently of each other.
Fees and Cost Over Time
MSFD charges 1.02% per year while TAIL charges 0.59%. On a $10,000 position that is $102 vs $59 annually, a gap of $43 per year that compounds over a long holding period. On income, MSFD currently yields 4.17% against 3.56% for TAIL.
Holdings Overlap
We hold position weights for 3 holdings in MSFD and 2 in TAIL, totalling 108.3% and 93.4% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 3 positions we hold weights for in MSFD and 2 in TAIL, against full books of 6 and 22.
You are not choosing between two funds in isolation.
Whichever of MSFD and TAIL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MSFD or TAIL?
MSFD has an expense ratio of 1.02% while TAIL charges 0.59%. TAIL is the cheaper option, by $43 a year on a $10,000 investment.
Which performed better, MSFD or TAIL?
Over the past year MSFD returned -10.15% vs -16.55% for TAIL, so MSFD leads on 1-year performance. Over the longest common window we track (4 years), MSFD annualized -17.74% vs -8.99% for TAIL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MSFD or TAIL?
MSFD has been the more volatile fund at 25.8% annualized versus 9.1% for TAIL. Worst drawdown: MSFD -62.1% vs TAIL -36.2%.
Should I hold both MSFD and TAIL?
MSFD and TAIL have a monthly-return correlation of 0.22, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MSFD or TAIL?
MSFD yields 4.17% while TAIL yields 3.56%, so MSFD currently pays the higher dividend yield.
Is TAIL better than MSFD?
TAIL has a lower expense ratio. MSFD led over 1Y, TAIL over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.